Category Archives: News

Carlyle and SK Capital Partners Announce Extension of bluebird bio Tender Offer to May 2, 2025

Carlyle

WASHINGTON, DC and NEW YORK, NY—April 16, 2025—Carlyle (NASDAQ: CG) (“Carlyle”), SK Capital Partners, LP (“SK Capital”) and Beacon Parent Holdings, L.P. (“Parent”) today announced that Beacon Merger Sub, Inc. (“Merger Sub”) has extended the expiration date of its offer (the “Offer”) to acquire all of the outstanding common stock of bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird”), to expire at one minute after 11:59 p.m., New York City time, on May 2, 2025.  The Offer was previously scheduled to expire one minute after 11:59 p.m., New York City time, on April 18, 2025. The tender offer was extended to allow additional time for the satisfaction of the remaining conditions to the tender offer, including receipt of applicable regulatory approvals.

Equiniti Trust Company, LLC, the depositary for the Offer, has advised Merger Sub that as of the close of business on April 15, 2025, approximately 700,288 shares of bluebird common stock have been validly tendered and not properly withdrawn pursuant to the Offer. Holders that have previously tendered their shares do not need to re-tender their shares or take any other action in response to this extension.

The Offer is being made pursuant to the terms and conditions described in the Offer to Purchase, dated March 7, 2025 (as amended or supplemented from time to time, the “Offer to Purchase”), the related letter of transmittal and certain other offer documents, copies of which are attached to the tender offer statement on Schedule TO filed by Parent and Merger Sub with the U.S. Securities and Exchange Commission (the “SEC”) on March 7, 2025, as amended.

The Offer is conditioned upon the fulfilment of certain conditions described in “Section 15—Conditions to the Offer” of the Offer to Purchase, including, but not limited to, the tender of a majority of the outstanding shares of bluebird, receipt of applicable regulatory approvals, and other customary closing conditions.

About bluebird bio, Inc.

Founded in 2010, bluebird has been setting the standard for gene therapy for more than a decade—first as a scientific pioneer and now as a commercial leader. bluebird has an unrivaled track record in bringing the promise of gene therapy out of clinical studies and into the real-world setting, having secured FDA approvals for three therapies in under two years. Today, we are proving and scaling the commercial model for gene therapy and delivering innovative solutions for access to patients, providers, and payers.

With a dedicated focus on severe genetic diseases, bluebird has the largest and deepest ex-vivo gene therapy data set in the field, with industry-leading programs for sickle cell disease, ß-thalassemia, and cerebral adrenoleukodystrophy. We custom design each of our therapies to address the underlying cause of disease and have developed in-depth and effective analytical methods to understand the safety of our lentiviral vector technologies and drive the field of gene therapy forward.

bluebird continues to forge new paths as a standalone commercial gene therapy company, combining our real-world experience with a deep commitment to patient communities and a people-centric culture that attracts and grows a diverse flock of dedicated birds.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $441 billion of assets under management as of December 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About SK Capital 

SK Capital is a transformational private investment firm with a disciplined focus on the life sciences, specialty materials, and ingredients sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $12 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The firm currently has approximately $9 billion in assets under management. For more information, please visit www.skcapitalpartners.com. 

 

Additional Information and Where to Find It

This communication is not an offer to buy nor a solicitation of an offer to sell any securities of bluebird. The solicitation and the offer to buy shares of bluebird’s common stock is only being made pursuant to the Tender Offer Statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials, that Parent and Merger Sub filed with the SEC. In addition, bluebird filed with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Investors may obtain a free copy of these materials and other documents filed by Parent, Merger Sub and bluebird with the SEC at the website maintained by the SEC at www.sec.gov. Investors may also obtain, at no charge, any such documents filed with or furnished to the SEC by (i) bluebird under the “Investors & Media” section of bluebird’s website at www.bluebirdbio.com or (ii) by Parent and Merger Sub by calling Innisfree M&A Incorporated, the information agent for the Offer, toll-free at (877) 825-8793 for stockholders or by calling collect at (212) 750-5833 for banks or brokers.

INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THESE DOCUMENTS, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 OF BLUEBIRD AND ANY AMENDMENTS THERETO, AS WELL AS ANY OTHER DOCUMENTS RELATING TO THE TENDER OFFER AND THE MERGER THAT ARE FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY PRIOR TO MAKING ANY DECISIONS WITH RESPECT TO WHETHER TO TENDER THEIR SHARES INTO THE TENDER OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE TENDER OFFER.

Investors & Media Contacts 

Bluebird 

Investors: 

Courtney O’Leary

978-621-7347

coleary@bluebirdbio.com

Media: 

Jess Rowlands

857-299-6103

jess.rowlands@bluebirdbio.com

 

Carlyle 

Media: 

Brittany Berliner

+1 (212) 813-4839

brittany.berliner@carlyle.com

SK Capital 

Ben Dillon

+1(646)-278-1353  

bdillon@skcapitalpartners.com

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Carlyle provides financing package to Argon

Carlyle

Paris, France – 16 April 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced that its Global Credit platform has provided a financing package of €180m to Argon & Co (“Argon”), a global management consultancy that specializes in operations strategy and transformation, to support the future growth of the business, including acquisitions.

Carlyle’s financing follows Bridgepoint’s recent investment in Argon for a significant minority stake via Bridgepoint Development Capital, its lower middle-market fund focused on supporting fast-growing businesses across Europe. Argon will continue to be majority owned by the company’s Partners.

Founded in 2005, Argon is a global management consultancy with expertise spanning supply chain planning, manufacturing, logistics, procurement, finance and shared services. The company has an established relationship among its highly diversified range of blue-chip clients for its deep sector knowledge in supply chain, global presence and breadth of offering. Since 2020, the company has pursued an active consolidation strategy, acquiring 13 strategic add-ons and successfully reinforcing its presence across its core markets. The company has 17 offices across Europe, North America, Australasia, Asia and the Middle East.

Carlyle’s investment will further consolidate Argon’s strong positioning in the operations consulting market across its key geographies, and provide additional growth capital to accelerate Argon’s ongoing expansion through both organic growth and M&A.

Otto Alaoui, a Managing Director in Carlyle Global Credit, said: “We are delighted to provide this strategic financing package to Argon, which represents a milestone transaction for our European Direct Lending strategy in France. This transaction underlines our established strategy of partnering with experienced and high-quality sponsors and management-led businesses, and supporting the build-up of strong, resilient companies by providing flexible capital solutions.”

Yvan Salamon, CEO of Argon & Co, said: “We are grateful to receive the support of Carlyle, which will enable Argon to continue capturing compelling growth opportunities through its highly differentiated client offering and expansion of the businesses’ global presence. This transaction is significant as we focus on consolidating Argon’s leadership position within this highly fragmented marketplace.”

Carlyle’s Global Credit platform manages $192 billion in assets under management, as of December 31, 2024. It regularly pursues investments in privately negotiated debt and capital solutions partnering with high-quality sponsors and leading family or entrepreneur-owned companies.

—

Argon & Co

Argon & Co is a global management consultancy that specialises in operations strategy and transformation. Its expertise spans supply chain planning, manufacturing, logistics, procurement, finance, and shared services, working together with clients to transform their businesses and generate real change. Its people are engaging to work with and trusted by clients to get the job done.
Argon & Co has 17 offices across Europe, Australasia, America, Asia and the Middle East. www.argonandco.com

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Global Investment Solutions. With $441 billion of assets under management as of December 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

 

Media contacts:

Carlyle:

Charlie Bristow

Tel: +44 (0) 7384 513568

Email: charlie.bristow@carlyle.com

 

Categories: News

Grupo GSH’S next stage of growth backed by leading global investor CVC

CVC Capital Partners

Grupo GSH (“GSH”), a leading healthcare services provider in Brazil, is pleased to welcome CVC Capital Partners IX as its new majority shareholder. The new partnership will continue GSH’s strong service level culture and accelerate growth in both its existing core markets and through expansion into new product categories and patient services. CVC Funds will acquire the business from Rede D’Or, the largest integrated health care network in Brazil, and from private equity fund Opus Investimentos, which have supported the development of GSH for more than eight years. GSH will remain as the main provider of hemotherapy services to Rede D’Or.

Headquartered in Rio de Janeiro, Brazil, GSH is a pioneer in Brazil’s hemotherapy and nuclear medicine space with leading market positions, delivering mission-critical services and products at an attractive value proposition to hospitals and diagnostic centres. The hemotherapy division serves 31,000 beds in +270 hospitals through long-term contracts providing blood collection, storage and transfusion services. The nuclear medicine division develops and services radiopharmaceutical products and solutions focused on diagnostics and therapeutics for hospitals, diagnostics and cancer centres in Brazil. Facilities include cold kit plant, radiopharmacies and cyclotrons.

Paulo Moll, CEO at Rede D’Or, said: “GSH has demonstrated RDSL’s ability to successfully develop complementary services that enhance our core hospital services, providing the very best care consistent with RDSL’s network. After eight years supporting and nurturing GSH it is time for the business to welcome a new investor to help accelerate its growth and we are delighted to welcome CVC as the new steward for the company. We look forward to working with them and to continuing to offer GSH’s high-quality services to our patients.”

Marcos Faccioli, GSH management representative, commented: “The interest of CVC in GSH confirms the success of our trajectory. A history built with the support of RDSL and Opus together with our employees, clients, suppliers and partners. We are very excited in welcoming CVC as the new majority shareholder and to work with the CVC team on the development of our business and on continuing to provide world class products and services to our clients and their patients.”

Quotes

GSH represents CVC’s first healthcare investment in Latin America, building on our strong local presence in Brazil and our broad healthcare portfolio of over 25 businesses worldwide.

Fernando PintoPartner and Head of Latin America at CVC

Fernando Pinto, Partner and Head of Latin America at CVC, added: “GSH represents CVC’s first healthcare investment in Latin America, building on our strong local presence in Brazil and our broad healthcare portfolio of over 25 businesses worldwide. We are excited to partner with GSH’s management team to continue strengthening its high-quality hemotherapy and fast-growing nuclear medicine services, while also expanding into new complementary areas. We are proud to have been selected as GSH’s next long-term partner.”

The closing of the transaction is subject to approval by the relevant regulatory authorities and is expected in Q3 2025.

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Stonepeak Partners with Dupré Logistics

Stonepeak

NEW YORK & LAFAYETTE, LA – April 16, 2025 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has partnered with Dupré Logistics (“Dupré” or the “Company”), a privately held transportation company specializing in innovative logistics solutions.

Dupré provides energy distribution services, onsite and private fleet services, and strategic capacity brokerage services to a diverse group of blue-chip customers throughout the United States. The Company, headquartered in Lafayette, Louisiana, has an extensive presence on the Gulf Coast and widespread coverage across the rest of the country. Today, Dupré maintains a fleet of more than 700 trucks and 1,000 professional drivers, and is partnered with more than 16,000 preferred carriers.

In conjunction with today’s announcement, Chris Sower has been appointed interim Chief Executive Officer of Dupré, effective immediately, succeeding Mike Weindel. Chris brings over 25 years of experience in supply chain logistics and has served in leadership positions at companies similar to Dupré that are essential to the movement of goods in the United States.

“Over the last 40 years, Dupré has established an impressive footprint, becoming an integral part of the supply chain in the Sun Belt. Their continued quality and delivery of mission-critical services has resulted in a loyal customer base and an established position as a regional industry leader,” said Graham Brown, Managing Director at Stonepeak. “We believe that Dupré will be a great complement to our growing transportation and logistics portfolio and look forward to working hand-in-hand with Reggie, Chris, and the Dupré team to take the Company to the next level.”

“Stonepeak’s partnership with Dupré represents an exciting new chapter for the Company, and I couldn’t be prouder of the work our team has done to get us to this point. I would like to thank Mike for his contributions along Dupré’s journey to date, and I wish him the best in his future endeavors,” said Reggie Dupré, Founder of Dupré. “What started as a two-truck operation has now become a sophisticated, multi-segment business. We are now ushering in a new era at Dupré with new leadership, and with change comes opportunity. With Stonepeak’s extensive supply chain expertise and experience with similar transportation and logistics businesses, we’ll have an expanded toolkit at our disposal to be able to even better deliver for our customers. The Dupré family will continue to be stockholders in the Company and I am confident in our path forward with Stonepeak, and enthusiastic about what this transaction means for Dupré.”

On his appointment, Chris said, “I am excited to be joining Dupré at this pivotal time in its history. I have the utmost respect for Reggie and the talented team at Dupré – they have built an incredible business from the ground up. I look forward to working closely with them and Stonepeak to lead the Company into its next phase of growth.”

Terms of the transaction were not disclosed, and the transaction has already closed. Simpson Thacher & Bartlett LLP served as legal counsel to Stonepeak. Brown Gibbons Lang & Company (BGL) served as the exclusive financial advisor to Stonepeak. Scudder Law Firm served as legal counsel to Dupré. G2 Capital Advisors served as financial advisor to Dupré.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $72 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

About Dupré Logistics

Dupré Logistics is a privately held transportation company that provides innovative logistics solutions through its three distinct business divisions: Energy Distribution Services, Site and Private Fleet Services, and Strategic Capacity Services. With extensive coverage on the Gulf Coast and widespread coverage across North America, Dupré Logistics has been nationally recognized for its commitment to safety, and for its unique business model, which combines company-owned assets and an extensively vetted carrier network. The company was founded in Louisiana in 1980 for transporting fuel. Today, Dupré brings customers customized logistics solutions for anything from chemicals and industrial gases to perishables, delivering on its promise to be “Always forward thinking.” Learn more at www.DupreLogistics.com.

Contacts
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

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Whitevision expands Intelligent Document Processing suite with the acquisition of Factuurportal

Main Capital Partners

Whitevision announces the acquisition of Intelligent Document Processing (IDP) software provider Factuurportal.

The Hague, April 15th 2025 – Today, Whitevision announces the acquisition of Intelligent Document Processing (IDP) software provider Factuurportal. The acquisition further solidifies Whitevision’s IDP product offering and market position within the Benelux, providing a solid foundation for further international growth. The transaction marks the second step in the buy-and-build strategy of Whitevision since partnering up with Main Capital Partners in August 2024.

Founded in 2018 and headquartered in Rotterdam (NL), Factuurportal is a developer and provider of AI-based software solutions designed to streamline document processing by automatically recognizing and converting various document types. The product suite of Factuurportal consists of tools for data recognition, validation and conversion. This allows users to automatically extract document data from various formats, check the data against legal and custom criteria, and convert the data into a format that integrates with the existing administrative systems. Factuurportal has a sector-agnostic customer base, yet has a stronger position in the government, healthcare and retail verticals. The customers are primarily located in the Benelux; notable examples i.a. include BMN, Staedion and Port of Amsterdam.

Factuurportal and Whitevision operate in the fast-growing Intelligent Document Processing (IDP) software market, driven by trends like increasing digitization and process automation, which are expected to continue expanding the global market. The IDP market remains relatively fragmented, with several large players driving consolidation. The combination of Factuurportal and Whitevision marks a strategic step in positioning Whitevision as a consolidator in the industry while enhancing its product portfolio.

The acquisition of Factuurportal by Whitevision perfectly aligns with our strategy to build software groups that are leaders in their product-market.”

– Sjoerd Aarts, Managing Partner & Head of Benelux at Main

Frank de Wit, Chief Executive Officer and Founder of Whitevision: “Together, Factuurportal and Whitevision share an ambition to grow internationally and become the leading Intelligent Document Processing software provider in Europe. Our partnership sets us on a path to achieve this ambition and, most importantly, to deliver a better and more complete software suite to all our customers.”

Rob Klaver, Chief Executive Officer of Factuurportal: “Both strategically and culturally, there is a very strong fit between Factuurportal and Whitevision. We are excited to join forces with the Whitevision team to accelerate our growth, both domestically as well as abroad. Additionally, I am really looking forward to the collaboration with Frank and the broader Whitevision team.”

Sjoerd Aarts, Managing Partner & Head of Benelux at Main Capital Partners: “The acquisition of Factuurportal by Whitevision perfectly aligns with our strategy to build software groups that are leaders in their product-market. This combination is an excellent example of how the buy-and-build journey benefits both companies and customers. Together, Whitevision and Factuurportal are ready to tackle the growing Intelligent Document Processing market with more accurate, more efficient, and better integrated solutions.”

About Factuurportal

Factuurportal, founded in 2018 and based in Rotterdam (The Netherlands) provides an AI-driven solution for the automated processing of incoming invoices using artificial intelligence and machine learning. This enables organizations to achieve structural time and cost savings while improving control over administrative processes. Factuurportal’s service focuses on continuous optimization in close collaboration with clients, with personal support as a core element of its approach.

About Whitevision

Whitevision, founded in 2005 and based in Breda (The Netherlands), is a developer and provider of software solutions to process documents in a digital and efficient manner. With its software, Whitevision helps its customers attain significant efficiencies through workflow automation related to the invoice booking process. The company is active in many different verticals but is a particularly prominent player in the construction & installation, professional services, technology, logistics and the automotive sectors. In total, the company serves over 1,650 customers, for which it processes over 20 million documents on an annual basis.

 

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AVP rebrands after MBO closing and welcomes EIF to AVP Growth Fund

AVP

AXA Venture Partners completes its Management Buyout, rebranding as Atlantic Vantage Point (AVP) and announces the European Investment Fund (EIF) joining as an anchor investor alongside AXA for its €1.5bn growth fund AVP Growth I

Paris, April 15th, 2025

  • AXA Venture Partners rebrands as Atlantic Vantage Point (AVP) becoming an independent private investment firm following the completion of its MBO,
  • European Investment Fund (EIF) joins as an anchor investor in AVP’s Growth Fund I, strengthening Europe’s late-stage tech funding landscape and aiming to scale rapidly growing, large technology companies.

Global investment platform AXA Venture Partners (AVP) has completed its MBO from AXA and will rebrand to Atlantic Vantage Point (AVP). This significant milestone for the firm, originally founded in 2016, transitions it to an independent private investment company. AVP will continue to work closely with AXA and build on the strong relationships developed over the past ten years.

The company’s new brand identity was selected to mark continuity and emphasize AVP’s strong transatlantic presence with deep roots in both Europe and North America. It underscores its identity and capacity to serve ambitious entrepreneurs targeting these two key markets.

Alongside completion of the MBO and the rebranding, AVP also announces that the European Investment Fund (EIF) has joined AXA as an anchor investor and committed a significant investment in AVP Growth Fund I, making AVP the only transatlantic investment platform for technology investments selected by EIF. The investment is part of the European Tech Champions Initiative (ETCI) that supports funds above €1bn investing in late-stage technology companies helping to build a world class European investment platform able to compete and partner with top-tier US investment platforms.

François Robinet, Managing Partner, AVP, said:

“Today marks an impressive milestone for AVP and our team, and ushers in an exciting new chapter for our firm. We are deeply thankful to AXA for the incredible continuous support in many dimensions in the last ten years. AXA will continue to be a key partner and we are very honoured that George Stansfield, Deputy-CEO of AXA, has accepted to remain Chairman of our Board. We look forward to ensuring continuity for our investors and the entrepreneurs we back, fostering an entrepreneurial spirit among our team, and putting performance and excellence at the heart of our operations.

We are also very pleased and honoured to have EIF, as an anchor investor as part of the European Tech Champions Initiative in our Growth fund to support an underserved part of the growing tech market in Europe. Through our multi-stage platform, we now have the capacity to support outstanding entrepreneurs along their journey, from early stages to IPO, in Europe and in North America. We will strive with our Growth fund to be “best-in-class” for our investors by nurturing the best possible tech companies”.

The EIF backing is a key catalyst for Growth Fund I, which has already closed three transactions over the past year including Agicap and Odoo. The Growth fund addresses a clear market gap in Europe for a European tech platform investing in growth stage tech investments, offering to the European entrepreneurs a differentiated alternative to premier US Growth funds and Sovereign Wealth Funds.

Marjut Falkstedt, EIF Chief Executive, said:

” We are delighted to be able to support AVP’s scaling strategy through the ETCI initiative to secure financing for future European leaders who have understood how technology can be used to create value. ETCI was designed to provide significant backing for major European funds, and a player such as AVP is in a strong position, thanks to its experience and performance, to contribute to the emergence of European leaders in key sectors for the future.”

 ETCI impact

ETCI is creating a positive dynamic in the European investor market and the tech ecosystem since launching in 2023.

To date ETCI has committed over €2.2 billion in 9 different scale-up technology funds, expected to mobilise €10 billion public/private resources to support investment in fast-growing high-tech companies. ETCI-backed funds have already invested in European companies operating in areas such as cybersecurity, artificial intelligence, financial technologies, biotechnology, and healthcare.

ETCI contributes to meeting the financing needs faced by European technology scale-ups, preventing them from relocating overseas and reinforcing Europe’s strategic autonomy and competitiveness. ETCI is also a strong contributor to the integration of the financial markets in Europe and represents an example of how the EIB Group can pioneer the Capital Markets Union.

George Stansfield, AXA Deputy CEO, said:

“We are proud to have built such a strong and successful platform over 10 years of close collaboration, to the point where AVP is now ready to operate independently. It’s a major milestone for AVP and I am sure that the AVP team will continue the strong journey they have started within AXA. We look forward to maintaining our excellent and unique relationship and continuing to drive attractive returns for AXA.

We are also delighted that EIF joins us as an anchor investor in AVP’s new Growth Fund. Joining forces with such a prestigious investor will allow AVP to launch a unique fund in Europe, dedicated to the financing of large growth stage tech companies offering an opportunity for a new European platform to tap an attractive market, which has historically been led by US-based funds”.

Notes to Editors:

For more information, contact:

 About AVP

AVP is an independent global investment platform dedicated to high-growth, tech (from deep-tech to tech-enabled) companies across Europe and North America, managing more than €2.5bn of assets across four investment strategies: venture, early growth, growth and fund of funds. Our multi-stage platform combines global research with local execution to drive investment. Since its establishment in 2016, AVP has invested in more than 60 technology companies and in more than 60 funds with the Fund of Funds investment strategy. Beyond providing equity capital, our expansion team works closely with founders, providing the expertise, connections and resources needed to unlock growth opportunities, and create lasting value through meaningful collaborations.

For more information, visit our new website: www.avpcap.com

About EIF

The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.

About ETCI

The European Tech Champions Initiative (ETCI) is a programme dedicated to supporting technological innovation, driving growth, and fostering the development of Europe’s tech ecosystem. Through strategic investments, partnerships, and mentorship, ETCI – managed by the European Investment Fund – aims to empower the next generation of European tech champions, shaping the future of technology and propelling Europe’s digital transformation.

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KKR Acquires Three Build-to-Rent Properties in Manchester from L&G

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KKR

London, 15 April 2025 – KKR and Inhabeo, KKR Real Estate’s living sector platform in Europe, today announced the acquisition of The Slate Yard in Manchester, a high-quality portfolio of three Build-to-Rent (BtR) multi-family buildings (the “Portfolio”). KKR and Inhabeo have acquired the Portfolio for over £100m from L&G, a leading UK-based financial services group.

The Portfolio has strong sustainability credentials and consists of 424 high-quality residential units across three properties, totalling 270,000 square feet. It houses attractive amenities including a gym, residents’ lounges and co-working spaces. Situated in a prime waterfront location, The Slate Yard is close to the central business district and well positioned to serve Manchester’s fast-growing population of professionals in an undersupplied residential market.

Mark Ekinde, Principal in KKR’s European Real Estate team, said: “Through the acquisition of The Slate Yard, we are pleased to further our presence in Manchester and continue to grow our UK residential portfolio. Catering to one of the UK’s largest and fastest-growing cities, these properties are well placed to meet the growing demand for high-quality, yet affordable, residential real estate. Acquiring strategically located, high-quality residential assets in major urban centres continues to be one of our main investment themes in Europe, driven by positive market trends and compelling structural dynamics.”

The acquisition of The Slate Yard is KKR’s latest real estate investment in Manchester, joining a growing portfolio which includes the No. 1 St Michael’s development, which in December 2024 achieved fully-let status, and recent investments in logistics and hospitality properties serving the city’s real estate market. The investment also expands KKR’s portfolio of residential real estate in both the UK and Europe, including assets in London, Birmingham, Brighton & Hove as well as Germany, Finland and Denmark.

Dan Batterton, Head of Residential, L&G: “We know there’s a critical shortage of housing supply, coupled with increasing demand for high-quality rental homes in the UK. With our recently announced partnerships aimed at creating thousands of new homes across the country, this sale will allow us to continue to reinvest in the Build-to-Rent sector, delivering much-needed new homes.”

Ross Netherway, CEO of Inhabeo, added: “This acquisition marks an important milestone in the continued growth of our European living sector investments with KKR, which now exceed £500m. We look forward to building on this momentum to expand further into high-quality Build-to-Rent and Purpose-Built Student Accommodation assets across select European geographies.”

KKR and Inhabeo were advised by CBRE and DLA Piper; L&G were advised by Knight Frank and Macfarlanes.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About inhabeo

Inhabeo is a specialist living sector platform founded in 2023. Inhabeo works in partnership with KKR across Europe with a focus on Build-to-Rent and Purpose-Built Student Accommodation for both core-plus and value-add strategies. For additional information about inhabeo, please visit www.inhabeo.com.

About L&G

Established in 1836, L&G is one of the UK’s leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at FY24) of which c. 44% (c. £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

Media Contacts
KKR
Alastair Elwen / Jack Shelley
FGS Global
+44 20 7251 3801
KKR-LON@fgsglobal.com

 

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Stonepeak to Acquire Majority Interest in IOR

Stonepeak

 

BRISBANE & NEW YORK — April 15, 2025 — Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has entered into an agreement to acquire a 75% interest in IOR (the “Company”), a leading integrated commercial fuel and logistics provider in Australia.

Founded in Queensland in 1984, IOR offers fully integrated fuel distribution, storage, equipment, and management services, and operates across the full value chain, from import to distribution. Its extensive network of commercial distribution channels includes a national footprint of over 110 unmanned truck refueling locations. IOR provides more than 7,000 customers across Australia and the Pacific with an efficient and reliable supply of diesel, AdBlue, and aviation fuel in regional and metro industrial end markets including transportation, mining, oil and gas, agriculture, aviation, and construction. IOR is explicitly focused on the needs of its commercial customer base, providing access to fuel even in the most remote locations via its proprietary technology solutions.

Darren Keogh, Senior Managing Director at Stonepeak, said, “IOR is a leader in commercial fuel distribution and logistics in Australia, and with its strong operating model, expansive network, and established customer base, the Company is a compelling fit for our Asia infrastructure strategy. Stonepeak invests in companies that are critical to the resiliency of supply chains which underpin our daily lives. In IOR, Stonepeak is investing in essential fuel distribution as a critical input into the Australian economy. We look forward to partnering with IOR’s existing shareholders and talented management team to support its continued growth.”

“There is so much opportunity across this industry for IOR to continue its strong growth, serving our hard-working customers in more locations, every day. IOR’s management team and existing shareholders are excited to be partnering with Stonepeak to accelerate our vision for the business,” said Stewart Morland, Director at IOR.

IOR’s Chief Executive Officer, Drew Morland, added, “Stonepeak is a highly respected and well-capitalized infrastructure investor, with deep expertise across the energy, transport and logistics sectors, and boots on the ground in Australia, where their strong ownership ties and local presence were critical to us in selecting our partner. With Stonepeak, we will continue to prioritize our local, hands-on relationships with our customers and suppliers, and be well-positioned to enhance their experience by providing them with innovative solutions that drive the industry forward. The strength of our team has always been the foundation of our success, delivering for our customers through our values of Innovation, Our Communities, and Reliability. I am proud that Stonepeak believes in our future, by investing in the next chapter which will shape our success and build on this great Australian business.”

Stonepeak has a strong presence in Australia and New Zealand, with an expert team on the ground that has deployed approximately USD $1 billion of capital into high-quality infrastructure investments in the region. To date, the firm has invested in several critical infrastructure assets in the region across the energy, transport and logistics, and social infrastructure sectors, including GeelongPort, a diversified landlord port and major driver of Victoria’s economy, ZEN Energy’s Templers BESS project, the second largest energy storage project under construction in South Australia, AGP Sustainable Real Assets, an investor, developer, and operator of renewable energy and sustainable infrastructure in Australia and New Zealand, and Arvida, one of New Zealand’s largest retirement and aged care providers.

The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals. Additional terms of the transaction were not disclosed. King & Wood Mallesons served as legal counsel and Macquarie Capital served as financial advisor to Stonepeak. Gilbert & Tobin served as legal counsel and Miles Advisory Partners served as financial advisor to IOR.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $72 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

About IOR

IOR is a leading commercial fuel distributor with operations across Australia and headquarters in Brisbane. IOR participates across the full fuel distribution value chain, operating: two fuel import terminals; a refinery for specialty products; a network of more than 110 unmanned refueling truck stops and more than 30 aviation refueling facilities; an extensive transport fleet with depots across Australia; and, two fuel infrastructure manufacturing and maintenance facilities. IOR has developed its own proprietary fuel management hardware and software called HyDip, which is designed to operate reliably in the most remote corners of the country. IOR’s long-term focus on innovation and technical development has underpinned its growth, and the establishment of a unique value proposition for its commercial customers. IOR maintains strong relationships with reputable international fuel suppliers via its supply function based in Singapore. For more information, please visit www.ior.com.au.

Contacts

Stonepeak:
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

IOR:
Nick Mackenzie / Drew Hipwood
media@ior.com.au
+61 459 745 074 / +61 418 718 634

 

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Wellington, Vanguard, and Blackstone to Collaborate on Investment Solutions Combining Public and Private Assets

Blackstone

BOSTON, VALLEY FORGE, AND NEW YORK, 15 April 2025 – Wellington Management (“Wellington”), Vanguard, and Blackstone (NYSE: BX) today announced a strategic alliance to transform how investors access institutional-caliber investment opportunities. The three firms will collaborate on developing simplified multi-asset investment solutions that seamlessly integrate public and private markets as well as active and index strategies.

The collaboration seeks to broaden access to sophisticated multi-asset portfolios ordinarily available to the largest global institutions. The new initiative, which is the first of its kind for the firms, brings together three world-class organizations drawing on their respective strengths:

  • Wellington’s nearly 100-year track record of active management and sophisticated asset allocation expertise;
  • Vanguard’s 50-year track record of delivering high-performing actively managed strategies and index funds at low cost to investors; and
  • Blackstone’s 40-year track record of cycle-tested performance and leadership position as the world’s largest alternative asset manager and number one provider of private markets solutions for individuals.

With this collaboration, the firms seek to address one of the most important long-term challenges facing investors and the asset and wealth management industry – building fully diversified portfolios that incorporate private assets and pursue higher returns. The firms aim to develop solutions that can support financial advisors’ efforts to meet their clients’ income and growth goals.

Solution details are expected to be announced in the coming months.

Jean M. Hynes, CEO of Wellington Management, said:
“Vanguard and Wellington have worked closely together for 50 years and have long admired Blackstone’s capabilities. We believe the unique combination of our investment expertise and well-respected brands will enable us to provide investors with comprehensive asset class exposure in easy-to-access investment solutions. We look forward to expanding these collaborative efforts over time to address evolving investor needs.”

Greg Davis, President and CIO of Vanguard, said:
“Vanguard’s expertise in both active and index strategies has helped our clients achieve investment success for five decades. Vanguard’s world-class active fixed income team combines top-down market and economic insights with bottom-up, research-driven security selection to consistently generate alpha. And Vanguard is an industry pioneer with extensive expertise in offering low-cost index funds. Through this unique collaboration with Wellington and Blackstone, we’re once again helping clients achieve investment success and changing the way investors access public and private markets.”

Jon Gray, President and COO of Blackstone, said:
“Blackstone has been a pioneer in revolutionizing how individual investors access private markets and today we’re proud to join forces with Wellington and Vanguard, two of the world’s leading asset managers, to further expand the benefits of private markets. This initiative builds on our proven track record of making institutional-quality investing available to individuals, with the power of Blackstone’s scale and expertise across asset classes.”

About Wellington Management
Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,500 clients in more than 60 countries. The firm manages more than US$1.3 trillion, as of 31 December 2024, for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients. Wellington aspires to provide excellent service to clients through a unique combination of independence enabled by its distinctive private partnership model, diverse perspectives through its unified, multi-asset investment platform, and relentless curiosity and intellectual rigor fostered by its enduring collaborative culture. For more information, visit wellington.com

About Vanguard
Founded in 1975, Vanguard is one of the world’s leading investment management companies. The firm offers investments, advice, and retirement services to tens of millions of individual investors around the globe – directly, through workplace plans, and through financial intermediaries. Vanguard operates under a unique, investor-owned structure where Vanguard fund shareholders own the funds, which in turn own Vanguard. As such, Vanguard adheres to a simple purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. For more information, visit vanguard.com.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

Forward-Looking Statements
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect Blackstone Inc.’s current views with respect to, among other things, its operations and the potential for the development of, and the ability to develop, any investment solutions, as part of the strategic alliance referred to herein. You can identify these forward-looking statements by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “scheduled,” “estimates,” “anticipates,” “opportunity,” “leads,” “forecast,” “possible” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Blackstone Inc. believe these factors include but are not limited to those described under the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2024, as such factors may be updated from time to time in its periodic filings with the United States Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Blackstone Inc.’s periodic filings. The forward-looking statements speak only as of the date of this report, and Blackstone Inc. undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Past results do not predict future returns. This content is published by Wellington Management Company LLP. ©2025 Wellington Management Company LLP. All rights reserved.

Media Contacts:
Robyn Tice
rtice@wellington.com

Michael Nolan
michael_nolan@vanguard.com

Felix Lettau
felix.lettau@blackstone.com

Categories: News

Smith Hill Capital and Bain Capital Announce $235 Million Refinancing for Gurney’s Montauk Resort & Seawater Spa

BainCapital

NEW YORK – April 15, 2025 — Smith Hill Capital, the fully integrated commercial real estate debt investment management business of Procaccianti Companies, and Bain Capital today announced the firms’ joint venture completed a $235 million refinancing for the iconic Gurney’s Montauk Resort & Seawater Spa in Montauk, New York for BLDG Management Co., Inc., and Metrovest Equities.

The 158-key property is a celebrated oceanfront resort located on a 2,000-foot private beach in Montauk, divided between 109 guestrooms, 35 suites, eight beachfront cottages, and six residences, and features five dining venues, a 30,000 square foot onsite spa with four spa pools, full-size indoor saltwater pool, 20 treatment rooms, a salon and state of the art fitness center, and 25,000 square feet of meeting space.

“Gurney’s Montauk represents the type of irreplaceable, generational asset that aligns perfectly with our investment strategy—anchored by strong market fundamentals, exceptional sponsorship, and long-term value creation,” said Brendan McCormick, Managing Principal, Smith Hill Capital. “Even in today’s uncertain capital markets, we continue actively deploying capital for high-conviction opportunities like this. We’re proud to partner with Bain Capital and support BLDG and Metrovest in the continued evolution of this iconic resort, which is uniquely positioned as a luxury destination in one of the most sought-after leisure markets in the country.”

“The Gurney’s Montauk loan exemplifies our strategic approach to commercial real estate lending,” said David DesPrez, a Partner at Bain Capital. “This transaction underscores our commitment to providing flexible financing solutions to high-quality borrowers and assets through an uncertain macroeconomic environment.”

“Gurney’s Montauk is an exceptional and iconic property in a one-of-a-kind location with world-class amenities,” said Justin Kleinman, Executive Vice President and Chief Operating Officer at BLDG Management. “This property is a premier resort destination in the Northeast and is an elite asset in our portfolio.”

“Smith Hill Capital and Bain Capital proved to be outstanding lending partners on the Gurney’s project,” said Christopher Peck, Senior Managing Director and Co-Head of the New York Office, JLL. “The team’s expertise and collaborative approach were invaluable in financing this unique asset. They immediately recognized the exceptional value of this 20-acre resort in Montauk, and their flexible lending solutions perfectly aligned with the sponsors’ requirements.”

Smith Hill and Bain Capital’s joint venture focuses on serving the financing needs of hospitality companies and assets in demand-driven markets across the U.S. The partnership combines decades of industry and capital markets experience with a highly attractive market opportunity.

JLL represented the sponsors in the transaction.

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About Smith Hill Capital
Smith Hill Capital (“Smith Hill” or “SHC”) is the fully integrated commercial real estate debt investment management business of the Procaccianti Companies (est. 1958). Smith Hill Capital was formed to invest in compelling commercial real estate debt opportunities that exist due to liquidity challenges and dislocation in commercial real estate financial markets. Smith Hill Capital is led by seasoned investment professionals who have multi-cycle investment experience and the tenured skill set to identify opportunities throughout the entire commercial real estate capital structure, spanning from securities to equity ownership. For more information, please visit www.smithhillcapital.com.

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.Baincapital.com. Follow @Bain Capital on LinkedIn and X (Twitter).

About BLDG Management
BLDG Management Co., Inc., is a privately held New York City-based real estate investment and development company with a national portfolio of more than 300 assets across all sectors, including residential, retail, industrial, hospitality and office.

About Metrovest Equities
Metrovest Equities is a New York City-based real estate firm specializing in the acquisition, development, rehabilitation and management of real estate assets. Established in 1996, the firm focuses on residential, office, retail, and hospitality opportunities in prime locations across the northeastern region of the U.S. The firm manages resorts and hotels across the United States. With a focus on long-term growth and value creation, Metrovest Equities strives to provide quality real estate opportunities for investors seeking stable returns.

Media Contacts

 Scott Lessne

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